Movik Announces $25m Cash Injection

Radio Access Network (RAN) company Movik Networks has announced that is has secured a $25m investment. 

The money comes from Oak Investment Partners, and previous investors Highland Capital Partners and Northbridge Venture Partners.

Movik Networks focuses on developing wireless networking products aimed at enabling RAN for high-value content delivery. The company says it will use the financing to scale field operations to support the companys growing deployments and trials worldwide, and to accelerate development of the companys RAN-aware mobile content delivery technology. In March, Movik announced an expanded presence in Europe and the Middle East.

“We have been impressed by the extraordinary growth of mobile broadband traffic and concerned about how well Radio Access Networks (RAN) will scale to handle the amount of web traffic requested by smart phones,” says Ed Glassmeyer, managing partner of Oak Investment Partners. “Movik addresses the issue with a solution that understands where traffic originates and what device type is requesting it. Movik schedules, paces, and off-loads traffic, providing better RAN utilization and throughput, while improving the user experience.”

John St. Amand, CEO of Movik Networks, says: “Our innovative technology has attracted top operators who have been seeking solutions for the challenges presented by the enormous growth in mobile broadband. Im especially pleased to receive support from our preeminent investor, Oak Investment Partners, as well as the continued support from our industry leading existing investors, North Bridge Venture Partners, and Highland Capital Partners.”

 

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